HP Probook 450 G3 Screen Flashing on Low Brightness

I just bought a new HP Probook 450 G3 few days back. After using it for a couple of days, I started noticing screen flashing/flickering when lowering the brightness. This happened both on Windows 7 and Windows 10. I have tried reinstalling and updating Intel HD graphic drivers but that doesn't work. I have also tried installing windows 10 updates but problem still persists. The only way to avoid screen flashing is to keep brightness level high.

The flickering that I see is more like a light bulb flickering. I am not sure if this is a software or hardware issue. Does anyone else face this issue with HP laptops. If so, did you manage to fix it?